Citigroup Boosts Plains All American Pipeline (NYSE:PAA) Price Target to $18.00

Plains All American Pipeline (NYSE:PAA) had its price objective hoisted by Citigroup from $17.50 to $18.00 in a report published on Monday morning, Benzinga reports. They currently have a neutral rating on the pipeline company’s stock.

A number of other research firms have also recently commented on PAA. Scotiabank started coverage on shares of Plains All American Pipeline in a research report on Monday, April 8th. They set a sector outperform rating and a $23.00 target price for the company. TD Securities raised their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the stock a hold rating in a research report on Monday. StockNews.com lowered Plains All American Pipeline from a strong-buy rating to a buy rating in a research report on Thursday, May 2nd. The Goldman Sachs Group raised their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a sell rating in a report on Friday, April 12th. Finally, UBS Group boosted their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a buy rating in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $19.15.

Plains All American Pipeline Price Performance

NYSE PAA opened at $17.66 on Monday. The company has a market cap of $12.38 billion, a PE ratio of 15.22 and a beta of 1.58. Plains All American Pipeline has a 52-week low of $12.50 and a 52-week high of $19.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. The firm’s 50 day moving average price is $17.42 and its 200-day moving average price is $16.18.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.41 EPS. Sell-side analysts forecast that Plains All American Pipeline will post 1.32 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 7.19%. Plains All American Pipeline’s dividend payout ratio is presently 109.48%.

Hedge Funds Weigh In On Plains All American Pipeline

Large investors have recently bought and sold shares of the business. Eagle Bay Advisors LLC acquired a new position in Plains All American Pipeline during the first quarter worth $26,000. Future Financial Wealth Managment LLC purchased a new stake in Plains All American Pipeline during the 1st quarter worth approximately $28,000. CENTRAL TRUST Co raised its holdings in shares of Plains All American Pipeline by 212.5% during the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock valued at $38,000 after acquiring an additional 1,700 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of Plains All American Pipeline in the fourth quarter valued at approximately $39,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Plains All American Pipeline in the fourth quarter worth approximately $46,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.